Supreme Judicial Court, February 5, 2014
Because a federal credit union is not a “bank” as defined in G.L. c. 167, § 1, an employee of a credit union "authorized by federal law" may not be found guilty under G.L. c. 266, § 52 of embezzlement of the credit union's funds.
Larceny by embezzlement, in violation of G.L. c. 266, §30, is a lesser included offense of embezzlement of a bank, in violation of § 52 and the federal preemption doctrine does not bar state prosecution of a federal credit union employee for larceny by embezzlement.